INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 7, 2003 No. 1317-U

About procedure for establishment of correspondence relations by authorized banks with the nonresident banks registered in the states and in the territories which are providing preferential tax regime and (or) not providing disclosure and provision of information when carrying out financial transactions (offshore zones)

Based on the Law of the Russian Federation "About currency control and currency exchange control" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1992, N 45, Art. 2542; Russian Federation Code, 1999, N 1, Art. 1; N 28, of Art. 3461; 2001, N 23, Art. 2290; N33 (part I), Art. 3432; 2002, N1 (part I), Art. 2; 2003, N 1, Art. 2; Art. 7; N 9, of Art. 804; "The Russian newspaper", 09.07. 2003, N 32), Federal Law "About Banks and Banking Activity" (Sheet of the Congress of People's Deputies of RSFSR and Supreme Council of RSFSR, 1990, N 27, Art. 357; Russian Federation Code, 1996, N 6, Art. 492; 1998, N 31, Art. 3829; 1999, N 28, Art. 3459; Art. 3469; 2001, N 26, Art. 2586; N33 (part I), Art. 3424; 2002, N 12, Art. 1093; "The Russian newspaper", 01.07. 2003, N 126), article 4 of the Federal law "About the Central Bank Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, N 28, the Art. 2790) and according to the solution of the Board of directors of the Bank of Russia (The protocol of N 18) is entered of 25.07.2003 the following procedure for establishment of correspondence relations by authorized banks with nonresident banks.

1. Establishment of correspondence relations:

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